“Senior retirement community" is an all-encompassing term that refers to the wide range of housing and care options available for older adults.
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Many people find 55+ communities worthwhile, as they are known for maintenance-free living, senior-friendly design, luxurious amenities, and opportunities to meet and socialize with other older adults.
When you add up the average annual cost of a home and living for seniors, including food, utilities, supplies, entertainment, and gas, it totals approximately $57,200. When you compare that number to the cost of the average independent retirement community cost in Massachusetts, the country’s most expensive state, it totals $36,000. That’s more than $20,000 less.
A single-family home in a senior lifestyle or age-restricted community may range from $100,000 to as much as a few million, depending on the location and the amenities available.
55+ communities offer a variety of benefits, including lower home purchase costs, quieter communities, shared support services such as yard care, security, provided meals, and maintenance staff for interior repairs. In addition, seniors who live in these communities are more active, more likely to live longer, and are happier overall.